Today's Business Headlines: 02/06/26
New York City private school tuition has soared past $70,000 per year – as institutions nod to a sky-high cost of living and the need to ramp up financial aid offerings, according to a report. At least seven NYC schools – including Spence School, Dalton School and Nightingale-Bamford School on Manhattan’s Upper East Side – charged more than $70,000 in tuition for the 2026-27 year, according to a Avenues in Chelsea location topped the list, with eye-watering tuition of $75,300 – up $3,000 from 2025-26 and more expensive than many elite colleges, according to the report.
The Dalton School is one of at least seven NYC schools that charged more than $70,000 in tuition, according to the report.It’s a sharp increase from a median NYC tuition of $39,900 in 2014 – but schools have argued the rising fees are necessary to cover higher costs, particularly teacher salaries, and offer more financial aid to struggling families. Eye-popping tuition costs are squeezing even the Big Apple’s highest earners, but for some families, “the numbers are what the numbers are, and they’re looking for a stellar education for their children and they’re willing to pay what’s necessary to secure that experience,” Barbara Scott, executive director of nonprofit Parents League of New York, told Bloomberg.Elon Musk reveals SpaceX working on 'self-growing city' – but not on Mars Lower Manhattan site sells for $7.5M less than asking — with 'deeply affordable' rental units on the horizon That’s especially true for New York families fearful of changes coming to the city’s public school system following the election of socialist Mayor Zohran Mamdani, according to Emily Glickman, who runs Abacus Guide Educational Consulting. The Mamdani administration has assumed control of New York City’s $43 billion school system, including 150,000 staffers and nearly 900,000 students – facing worsening challenges like chronic absenteeism, dismal reading and math scores and falling enrollment. Glickman told Bloomberg she has noticed more families looking into private schools following Mamdani’s promises to shake up the educational system, “whether they can afford it, or barely afford it.”Proponents of the program have argued getting rid of the classes would eliminate opportunities for thousands of students from low- and middle-income families. Noni Thomas López, head of school at Poly Prep Country Day School – which charged $71,852 in grade 12 tuition this year – told Bloomberg the school’s board of trustees sets rates based on “careful review of the school’s operating needs,” including financial aid.The school provided about 22% of its student body with more than $14.5 million in aid this year, according to its website. Tara Powers, head of communications at Avenues New York, told Bloomberg the school allocated more than $20 million in financial aid to more than 20% of its students this year. Tuition can also cover the costs of learning supplies, school meals and extracurricular programs like field trips – which can pack a punch. “We’re not talking about going to the Statue of Liberty or the Metropolitan Museum of Art,” Scott, who runs a nonprofit that helps parents apply to private schools, told the outlet. “We are talking about going to that eighth grade trip to Washington for three days, or that trip to the Freedom Trail in Boston when you’re a sixth grader, or the ninth grade trip to Europe.” Most parents budget for an annual tuition increase of 3% to 5%, according to Robin Aronow, who runs School Search NYC and helps guide parents through the admissions process. But there has been “definite sticker shock for some families” this year, said Sharon Decker, an education consultant who helps families apply to private schools. Her firm, The Admissions Plan, has seen more families asking about financial aid and increased interest in Catholic and Jewish schools, which typically charge less than independent private institutions, she told Bloomberg.JPMorgan workers fear 'career suicide' for defying Jamie Dimon’s return-to-office order: reportOlivia Colman always describes herself to her husband ‘as a gay man’Did Bad Bunny's Super Bowl 2026 halftime show actually include 5-year-old ICE detainee Liam Ramos? The Dalton School is one of at least seven NYC schools that charged more than $70,000 in tuition, according to the report.
College Tuition Inflation New York City Prices Private Schools
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